While the nationwide housing market is certainly important, especially as it significantly effects the overall economy, of substantially greater importance are the conditions of the local housing market. It has been said – and rightly so – that all real estate is local. Thus, we track local real estate markets very closely.
Reports, in increasing numbers, from around the country and Western Europe, are beginning to filter in which suggest that the worst of the housing market – as is the case with the overall economy – is not yet behind us, despite the beginning of an anemic recovery.
Lexington Remodeling makes the below charts – furnished by Altos Research – available as a service to our readers and customers. The charts present data about the local Dallas area and, in particular, the . Texas housing market
As is immediately noteworthy in the Inventory Chart, housing inventory in Plano is once again climbing, which is exactly opposite the trend we would prefer to see. Not surprisingly, the Median Price chart, which almost always charts inversely with inventory, is trending down. Subscribe to this blog to watch these charts closely, as they are updated daily.